| Amid Carillion Catastrophe, Suppliers Panic With Payments In Limbo
The U.K. market was rocked Monday by news that construction conglomerate Carillion has gone into liquidation. As the government scrambles to explain questionable contracts and protect employees, the fallout is also hitting the industryâs small suppliers â hard. One expert called Carillionâs supplier payment practices âappalling,â and losses are piling up into the millions of dollars for SMBs that may never see invoices paid. The Carillion collapse is a worst-case scenario for an industry already mired in B2B payments trouble.
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| PSD2 Takes Center Stage As Open Banking Era Opens
As Open Banking â part of PSD2 â takes shape in the U.K., the goal is to free up data and access (with consumer approval, of course) across standardized formats and processes. The changes are big ones for the nationâs marquee names in banking, like Barclays and RBS. And yet, might many be caught flat-footed? Some data suggests yes.
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| | Blockchain | | To Disrupt Global Trade, Blockchain Must Play Nice With Existing Tools
Blockchain has had a challenging time emerging from the test lab and into the real world. But the potential for the technology to disrupt global trade and finance is too great to ignore. According to Karan Bhardwaj, chief technology officer at blockchain company XinFin, in order for solutions to take off, they have to play nice with what the market already has â including regulators and regulated payment rails. Read More... |
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